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2012 (2) TMI 315 - DELHI HIGH COURTFailure to pay Consideration - recovery - Purchase Order for Conveyor System - Rs 1,67,19,053 were paid out of Rs 1,90,83,443 - Agreement entered: Respondent Co. to pay balance amount petitioner to help in working of conveyor belts - Cheques dishonored - Draft Can-celled - Co.is in winding up - Held That:- Defense of respondent co. is sham. Liquidator to take over the entire assets. Respondent company, its directors, officers, employers, authorised representatives are restrained from selling, transferring, alienating, encumbering and parting with the possession of any movable and immovable assets and funds of the respondent company. They are also restrained from withdrawing any money from the accounts of the respondent company.
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